Are Home Mortgage loans coming down now?

[Bonobo]

Can someone knowledgeable about the industry check in here and make themselves available for a rundown on the current state of things?

I usually hang up on those phone calls, but I am wondering if I actually could refinance to my advantage now. Are rates going down now? Can I do better than 6% flat @ 15 years?

Thanks in advance.

[mikeytherat]

1. 6% x 15 is about the best deal right now.

Just a week ago, I re-fied a property at 6.125 x 15 years.

mikey_the_rat

[Bonobo]

5. Thanks. nt

[Lex]

2. Lots of sites compile data

for you to review yourself:

http://www.mortgage101.com/Articles/DailyRateSurvey.asp

[Bonobo]

4. Thank you. nt

[flvegan]

3. Depends on the terms of the refi.

The fed isn't going any lower, though. I doubt you're going to get much better than 6%, and you'll just wind up with closing costs. I think 5.75% is the absolute basement right now.

[Bonobo]

6. Liar on the phone said basement was starting in the "4s". nt

[flvegan]

7. Might be points involved

or other fees or up front money. Might also be 4% for 2 years and then adjust.

[Bonobo]

10. I will try to be careful of the sleaze (cheese) factor.

Thanks again.

[seasat]

8. I've gone to this site for years, they list rates by type and city.

Bankrate.com lists all the mortgage types and rates for most cities in each state. They have links to the lenders with the best rates so you can check them out before hand. When I was shopping for a refinance years ago, I looked at the best rates but checked each lender's record also. I checked the better business bureau and whether they were members of state loan associations. I also searched to see if I could find any complaints on each.

[Bonobo]

11. Thank you. nt

[helderheid]

9. They will go up (slowly). They are stable now.

helderheid,
DU REALTOR.

[Bonobo]

12. Thank you. nt